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Lenders give their depositors raw deal on savings

A teller counts Kenya shilling notes inside the cashier's booth at a forex exchange bureau in Kenya's capital Nairobi

Top banks in the country held on to huge cheap deposits even as customers across sectors suffered from an unprecedented credit crunch last year.

The filings of eight tier I banks that have so far reported their 12-month earnings for last year show that while customers enriched the lenders’ coffers with Sh235.3 billion worth of deposits, their loan books registered a marginal expansion.

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